TAG Oil Completes Normal Course Issuer Bid

TAG Oil 's Normal Course Issuer Bid announced in September 2008 to purchase up to 1,516,700 common shares has been completed through the facilities of the TSX Venture Exchange. As a result of the purchase and cancellation of 1,516,500 shares there will be 16,809,722 shares issued and outstanding.

Garth Johnson, TAG Oil Chief Executive, commented, "The purchase of the Company's shares over the term of the Normal Course Issuer Bid represented a prudent investment given the discrepancy between the share price and the value of the underlying assets. The purchase and subsequent cancellation of these shares has created substantial value for TAG shareholders in addition to its developing assets and high graded exploration prospects in the Taranaki Basin of New Zealand."